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Bank of Tokyo-Mitsubishi to sell stake in Indonesian financing JV to Bank Rakyat Indonesia

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Bank of Tokyo-Mitsubishi to sell stake in Indonesian financing JV to Bank Rakyat Indonesia

Bank ofTokyo-Mitsubishi UFJ Ltd. agreed to sell its 55% stake in PTBTMU-BRI Finance to PT BankRakyat Indonesia (Persero) Tbk.

The bank said July 12 that it will become the controllingshareholder of BTMU-BRI Finance following the transaction. BTMU-BRI Finance isa joint venture between Bank of Tokyo-Mitsubishi and Bank Rakyat Indonesia,with the Japanese lender holding a 55% stake and Bank Rakyat Indonesia holdinga 45% stake.

With the new multifinancing unit, Bank Rakyat Indonesia islooking to offer an integrated financial service.